On May 5, 2023, Saba Capital Management, L.P announced that it has filed a preliminary proxy statement with the Securities and Exchange Commission, requesting shareholders of BlackRock California Municipal Income Trust to vote for the election of Saba Capital?s slate of three nominees Ravi Bhasin, Ilya Gurevich and Emmanuel Werthenschlag and to vote for 4 advisory proposals at the annual meeting asking board to (i) give shareholders the right to amend the Company's bylaws, (ii) declassify the board so that all trustees are elected on an annual basis, (iii) opt-out of the Delaware Control Share Acquisition Statute, which strips certain voting rights from shareholders owning 10% or more of the Company's stock, and (iv) merge the Company with an existing open-end fund at the Company's 2023 annual meeting of shareholders.